AUDUSD, H4 bounced from our Pivot point, potential for rise.
Price is bouncing from our Pivot point at 0.77376, in line with 78.6% Fibonacci retracement and 127% Fibonacci extension, where we could potentially see a rise from our pivot towards our 1st resistance level at 0.78049. It is worth noting that price is trending above the Ichimoku cloud, in line with our bullish view.
Pivot: 0.77376
Why we like it:
78.6% Fibonacci retracement and 127% Fibonacci extension
1st Support: 0.76987
Why we like it:
50%, 127% Fibonacci retracement, 200% fibonacci extension and horizontal graphical area.
1st Resistance: 0.78049
Why we like it:
78.6% Fibonacci extension, 161.8% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
Pivot: 0.77376
Why we like it:
78.6% Fibonacci retracement and 127% Fibonacci extension
1st Support: 0.76987
Why we like it:
50%, 127% Fibonacci retracement, 200% fibonacci extension and horizontal graphical area.
1st Resistance: 0.78049
Why we like it:
78.6% Fibonacci extension, 161.8% Fibonacci retracement and horizontal swing high resistance.
Trading FX & CFDs carries high risk.
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